There are many careers available with an MBA in Accounting. That is why many American students have shifted their focus from other MBA programs to accounting. One of the benefits of an MBA is that it provides students with the flexibility and relevancy across industries. One can work almost anywhere in an accounting or managerial position. Here are the top five jobs available for those who have an MBA in Accounting.
Auditing Manager
An auditing manager is responsible for the internal operation controls and processes. He ensures that the company runs smoothly and follows the internal and external laws and regulations. He looks at the accounting records and ensures that they are fulfilled as binding legal contracts. An auditing manager may also work with the human resource department to ensure the employees are acting ethically and professionally. Auditing managers earn an average salary of $86,065 per year. According to Bureau of Labor Statistics, the employment rate is projected to grow by 11 percent in the next 10 years.
Financial Analyst
A financial analyst reviews the complex financial data and provides insights on how a company can improve its financial position. He analyzes the specific strengths and weaknesses of the company and decides on the appropriate course of action to increase profitability and minimize financial risks. He may also prepare financial models and predict future economic conditions. Financial specialists earn an average salary of $95,320 per year. Most of them have management roles in various companies and enterprises. Others work in the stock market and depository credit firms.
Chief Financial Officer
A chief financial officer is responsible for all the administrative, accounting and risk management operations within an organization. He plays a key role in the development of financial and operational strategies. This includes metrics linked to those strategies and the control systems designed to protect the company’s finances and assets. Other duties include designing the company’s future direction, developing tax strategies and managing the budgeting process. Chief financial officers earn an average salary of $126,753 per year. It is one of the most lucrative careers for those with have an MBA in Accounting.
Chief Executive Officer
A chief executive officer is in charge of the day-to-day operations of a company. He works with the board members to develop the company’s strategies. He ensures the company is in a stable financial position and monitors various risks. A CEO also ensures the company maintains high standards of corporate responsibility and that there are enough workers to carry out various duties. Chief executive officers earn an average salary of $168,510 per year, according to PayScale. The lowest–paid CEOs earn $73,981 while the highest-paid get up to $1 million.
Revenue Manager
A revenue manager is responsible for the proper accounting of finances received by a company. This entails invoicing, managing the firm’s receivable department and ensuring that revenues from unpaid accounts are collected. A revenue manager also ensures that his juniors adhere to the generally accepted accounting principles. Revenue managers earn an average salary of $59,209 per year. Those who have MBAs earn more than $100,000. Most revenue managers work in the hospitality industry. A few are self-employed and others work in retail, information technology and manufacturing industries.
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Students who do an MBA in Accounting have the opportunity to work at high-level positions in the public and private sectors. The list discussed above is just a fraction of the lucrative careers available with an MBA in accounting.